Shlomo Nehama Steps Down as Chairman of the Board of Ellomay Capital Ltd.
Ellomay Capital (NYSE American; TASE: ELLO) announced significant leadership changes as Shlomo Nehama steps down as Chairman of the Board after 16 years of service. The Board unanimously appointed Ben Sheizaf as new Board member and Chairman, serving until the Company's 2025 annual general meeting. Sheizaf, 67, brings extensive experience from the Israeli finance and insurance sectors, currently serving as CEO of B.P.O. and board positions at Isracard and Detelix Software Technologies He previously held senior positions at Phoenix Financial , including Deputy CEO and Head of Long-Term Savings Division.
Ellomay Capital (NYSE American; TASE: ELLO) ha annunciato significativi cambiamenti nella leadership, poiché Shlomo Nehama si dimette dalla carica di Presidente del Consiglio dopo 16 anni di servizio. Il Consiglio ha nominato all'unanimità Ben Sheizaf come nuovo membro del Consiglio e Presidente, in carica fino all'assemblea annuale del 2025 della Società. Sheizaf, 67 anni, porta con sé una vasta esperienza nei settori finanziario e assicurativo israeliani, attualmente ricoprendo il ruolo di CEO di B.P.O. e occupando posizioni nel consiglio di amministrazione di Isracard e Detelix Software Technologies. In precedenza ha ricoperto ruoli dirigenziali in Phoenix Financial, inclusi quelli di Vice CEO e Responsabile della Divisione Risparmi a Lungo Termine.
Ellomay Capital (NYSE American; TASE: ELLO) anunció cambios significativos en la dirección, ya que Shlomo Nehama renuncia a su cargo como Presidente de la Junta después de 16 años de servicio. La Junta nombró unánimemente a Ben Sheizaf como nuevo miembro de la Junta y Presidente, que se desempeñará hasta la reunión general anual de la Compañía en 2025. Sheizaf, de 67 años, aporta una amplia experiencia en los sectores de finanzas y seguros israelíes, siendo actualmente CEO de B.P.O. y ocupando posiciones en la junta de Isracard y Detelix Software Technologies. Anteriormente, ocupó puestos de alto nivel en Phoenix Financial, incluyendo el de Vicepresidente y Jefe de la División de Ahorros a Largo Plazo.
Ellomay Capital (NYSE American; TASE: ELLO)는 Shlomo Nehama가 16년의 서비스 끝에 이사회 의장에서 물러난다는 중요한 경영진 변화를 발표했습니다. 이사회는 Ben Sheizaf를 새로운 이사회 멤버이자 의장으로 만장일치로 임명하였으며, 2025년 주주 총회까지 직무를 수행합니다. 67세의 Sheizaf는 이스라엘 금융 및 보험 분야에서 폭넓은 경험을 보유하고 있으며, 현재 B.P.O.의 CEO와 Isracard 및 Detelix Software Technologies의 이사회 직책을 맡고 있습니다. 그는 이전에 Phoenix Financial에서 고위직을 역임하며, 부사장 및 장기 저축 부서장을 포함한 경력을 쌓았습니다.
Ellomay Capital (NYSE American; TASE: ELLO) a annoncé des changements de leadership significatifs avec la démission de Shlomo Nehama en tant que Président du Conseil d'Administration après 16 ans de service. Le Conseil a nommé à l'unanimité Ben Sheizaf en tant que nouveau membre du Conseil et Président, qui exercera ses fonctions jusqu'à l'assemblée générale annuelle de la Société prévue en 2025. Sheizaf, âgé de 67 ans, apporte une vaste expérience des secteurs financier et d'assurance israéliens, occupant actuellement le poste de PDG de B.P.O. et des positions au conseil d'Isracard et Detelix Software Technologies. Il a précédemment occupé des postes de direction chez Phoenix Financial, y compris celui de PDG adjoint et de responsable de la division des économies à long terme.
Ellomay Capital (NYSE American; TASE: ELLO) gab bedeutende Führungswechsel bekannt, da Shlomo Nehama nach 16 Jahren Dienst als Aufsichtsratsvorsitzender zurücktritt. Der Vorstand ernannte einstimmig Ben Sheizaf zum neuen Vorstandsmitglied und Vorsitzenden, der bis zur Jahreshauptversammlung des Unternehmens im Jahr 2025 tätig sein wird. Sheizaf, 67 Jahre alt, bringt umfangreiche Erfahrungen aus den israelischen Finanz- und Versicherungssektoren mit und ist derzeit CEO von B.P.O. sowie in Aufsichtsratspositionen bei Isracard und Detelix Software Technologies aktiv. Zuvor hatte er leitende Positionen bei Phoenix Financial inne, einschließlich der des stellvertretenden CEO und der Leitung der Abteilung für langfristige Altersvorsorge.
- Smooth leadership transition with immediate appointment of new chairman
- New chairman brings extensive financial sector experience and leadership background
- Departure of long-term chairman who is also a controlling shareholder could create uncertainty
Insights
The appointment of Ben Sheizaf as the new Chairman brings significant financial sector expertise to Ellomay Capital, particularly valuable for a renewable energy company in its growth phase. His extensive background in Phoenix Financial and experience with risk management at Isracard suggests a potential shift towards more sophisticated financial strategies and risk assessment in Ellomay's operations.
The departure of long-term Chairman Shlomo Nehama, who oversaw the company's expansion in renewable energy across multiple markets, marks the end of a significant growth period. While management changes can create uncertainty, Sheizaf's proven track record in managing large-scale financial operations and his experience with long-term savings and investments aligns well with the capital-intensive nature of renewable energy projects.
Ben Sheizaf Appointed as Board Member and Chairman of the Board
Tel-Aviv, Israel, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and the USA, announced today that Shlomo Nehama, after serving as chairman of the board for 16 years, has decided to resign from the Company’s Board of Directors. Mr. Nehama served on the Board of Directors and as the Company’s Chairman of the Board since March 2008 and is a controlling shareholder of the Company.
In connection with Mr. Nehama’s resignation, the Company’s Board of Directors unanimously appointed Mr. Ben Sheizaf as a member of the Board of Directors and as Chairman of the Board. Mr. Sheizaf will serve as a director until the Company’s 2025 annual general meeting, at which he can be nominated for reappointment to the Company’s Board of Directors.
Mr. Sheizaf, 67, is the founder and CEO of B.P.O. Ltd., a consulting firm since 2019, and has held many senior positions in the Israeli finance and insurance sectors. Mr. Sheizaf currently serves as a member of the board and chairman of the risk management committee of Isracard Ltd. (TASE: ISCD) and as chairman of the board of Detelix Software Technologies Ltd. Between 2008-2019 he held several positions in Phoenix Financial Ltd. (TASE: PHOE), including Deputy CEO and Head of the Long-Term Savings Division, CEO of The Phoenix Pension and Provident Fund Ltd. and a board member of other companies in the group, chairman of Excellence Provident Fund Ltd. and a member of the board of Excellence Investments Ltd. (between 2018-2019), and chairman of Shekel Insurance Agency (2008) Ltd. (between 2012-2015). Mr. Sheizaf holds a B.A. in Accounting and Economics from Tel Aviv University and completed a supplemental year of accounting studies.
“Having served as chairman of the board for 16 years, it is time for me to step down. We have achieved extraordinary growth and expansion with an impressive geographical spread as well. I am proud of what we have accomplished. It is with great pleasure that I thank the shareholders for their trust in us, the board members, and management for their responsible and accurate implementation of our strategic plans. The future holds many opportunities for us. I am pleased to announce Benny Sheizaf’s appointment. I am confident that he will bring impressive knowledge and experience. This will help move the company forward to new heights. Needless to mention that if so requested or required I shall personally assist the board and the chairman in all aspects,” said Mr. Nehama.
“It is my pleasure to thank Shlomo and the members of the board for their confidence in me. Together with Ellomay’s excellent team, I am confident that we will lead the company to significant and sustainable growth,” said Mr. Sheizaf, the incoming Chairman of the Board.
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are listed on the NYSE American and the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe, USA and Israel.
To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:
- Approximately 335.9 MW of operating photovoltaic power plants in Spain (including a 300 MW photovoltaic plant in owned by Talasol, which is
51% owned by the Company) and approximately 20 MW of operating photovoltaic power plants in Italy; 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about6% -8% of Israel’s total current electricity consumption;- Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;- A solar plant (18 MW) under construction in Italy;
- Solar projects in Italy with an aggregate capacity of 195 MW that have reached “ready to build” status; and
- Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of 49 MW that are under construction.
For more information about Ellomay, visit http://www.ellomay.com.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including changes in electricity prices and demand, continued war and hostilities in Israel, Gaza and Lebanon, regulatory changes, including extension of current or approval of new rules and regulations increasing the operating expenses of manufacturers of renewable energy in Spain, increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kalia Rubenbach (Weintraub)
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com
FAQ
Who is the new Chairman of Ellomay Capital (ELLO)?
Why did Shlomo Nehama resign from Ellomay Capital (ELLO)?
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